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Terrorism paralyses Wall Street

Trading was suspended in the City and Wall Street after the terrorist attacks on the World Trade Centre in the heart of New York&#39s financial district, the Pentagon and other Washington targets.

The FTSE continued trading to close down 287 points at 4746, a fall of 5.7 per cent from the start of the day. The Dow Jones Industrial Average was unchanged at 9605 when trading stopped following the evacuation of Wall Street.

The London Stock Exchange, major City offices and Canary Wharf were evacuated as the London financial services industry ground to a halt.


Lenders tear into FSA&#39s &#39confusing&#39 proposals for mortgage regulation

FSA proposals for mortgage regulation will be slammed as anti-competitive, ineffective and likely to stifle innovation in consultation responses sent to the regulator this week. Several major lenders say their responses to the FSA&#39s consultation document – due in this week – rip apart the proposals as being a backward step for the market and […]

Liz Walkington

Direct mailing is an activity many IFAs may shy away from. It seems to contradict the ethos of personal, face-to-face advice which is the essence of the IFA&#39s role. In an organisation such as ours, where there is considerable direct-mail activity as well as a big fieldforce of advisers, the two may seem to be […]

Possible rate cut if US terror assault results in downturn

The Federal Reserve, the European Central Bank and the Bank of England have all indicated that interest rates will be cut if the terror assaults on the US push the world towards recession.But Bank of England governor Sir Edward George ruled out an immediate co-ordinated cut, and the European Central Bank has warned that a […]

FSA relaxes reserve rule

The FSA is throwing a lifeline to providers to stop them being forced into selling equities to meet statutory reserves. One of the FSA&#39s regulatory resilience tests which aims to ensure life offices have reserves to cover the possibility of a sharp stockmarket fall has been temporarily dropped. The FSA says the scenario the test […]

Benefits of using a probate bare trust

Have you ever wondered what happens to someone’s investment bond on their death if it is not written in trust? When someone dies it is essential to deal with their estate, which can be made up of their home, belongings, investment bonds and anything else they may have owned. But, it is not as simple […]


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